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Update on 36bn 'world's largest building' project as big as 20 Empire State Buildings

A vast cube intended to loom over a new district in Riyadh, Saudi Arabia, was envisioned as a futuristic new form of skyscraper, but there has been a major development

[SEE SWNS STORY SWNAsaudi --- Saudi Arabia is to build a 400m high golden cube in its capital city. T]

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A vast cube was intended to loom over a new district in the Saudi Arabian capital of Riyadh(Image: New Murabba/PIF/SWNS)

A significant development has emerged regarding what was tipped to become the world's largest building a structure so immense it could reportedly accommodate 20 Empire State Buildings within its walls. The Mukaab project, a gigantic cube planned to dominate a new district in Saudi Arabia's capital, Riyadh, was conceived as a revolutionary take on the skyscraper, but hopes of seeing it realised may now be fading.

The ambitious design called for a structure measuring 400 metres in height and width, boasting a staggering two million square metres of floor space. The sheer scale of the Mukaab cube was such that it could reportedly contain the equivalent of 20 Empire State Buildings New York's iconic 381m tower.

It was planned as a development in a lavish new district designed to accommodate 400,000 residents, yet the enormous construction venture has reportedly been put on hold and may never reach completion.

Saudi Arabia's $925bn (674bn) sovereign wealth fund is believed to be scaling back its property ventures and seeking to deploy its resources more strategically, Reuters reports, which could affect the country's Saudi Vision 2030 programme.

[A vast cube was intended to loom over a new district in the Saudi Arabian capital of Riyadh]

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The Mukaab was tipped to be so vast that it would be able to house 20 Empire State Buildings(Image: New Murabba/PIF/SWNS)

This wouldn't mark the first ambitious urban development contemplated by the kingdom, with The Line perhaps being the most notable a groundbreaking linear city that Prince Mohammed bin Salman promised would feature "no roads and zero carbon emissions".

These incredibly ambitious development schemes remain unfinished, with the Mukaab appearing to be stuck in limbo as officials reassess both the funding and feasibility of the megaproject.

In terms of construction, the Mukaab is said to require massive excavations for the purposes of housing the structure's foundations, and it was due to contain a 300-metre tower and commercial and hotel complexes.

For the time being, however, the ultimate completion date for New Murabba, the 36bn district that is destined to accommodate the Mukaab, has been pushed back to 2040, according to 7sur7.

[Majestic Riyadh City Skyline Under Clear Blue Skies]

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The Saudi sovereign wealth fund appears to be cutting back on its real estate endeavours(Image: Getty)

Speaking at a conference in Riyadh in December last year, Michael Dyke, the CEO of real estate firm New Murabba, said: "When you enter Mukaab, you enter another world. Trying to create something that doesn't yet exist is a real challenge."

The Saudi authorities are understood to be redirecting focus towards sectors including cryptocurrencies, mining, and artificial intelligence (AI), having previously concentrated on the luxury tourism sector.

Saudi Arabia reportedly also conceded that, although not all real estate projects have been halted, they will all have to be reviewed.

Faisal al-Ibrahim, the kingdom's economy minister, said: "We are completely transparent. We will not hesitate to say that we have had to modify, postpone or redefine this or that project."

However, it was noted that he did not reveal which developments would remain and which would be scrapped.

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